List the errors you find in the following partial balancesheet: Planet Bronze Company Balance Sheet December 31, 2008 Assets Replacement Accumulated Depreciation Book Value Cost Property, plant, and equipment: 80,000 208,000 440,000 96,000 64,000 36,000 16,000 60,800 233,600 64,000 64,000
List the errors you find in the following partial balancesheet:.png)
Transcribed Image Text:
Planet Bronze Company Balance Sheet December 31, 2008 Assets Replacement Accumulated Depreciation Book Value Cost Property, plant, and equipment: 80,000 208,000 440,000 96,000 64,000 36,000 16,000 60,800 233,600 64,000 64,000 147,200 206,400 32,000 64,000 32,000 Land Buildings . Factory equipment Patents .. 4,000 Total property, plant, 924,000 5378,400 545,600
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1 Fixed assets should be reported at cost and not replacement cost 2 Land do…View the full answer
Related Book For 
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Posted Date: July 17, 2012 02:11:38
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